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Credit Card Repayment Cover

You may have heard of credit card repayment cover, you may even have it on your own credit card, but did you know it is just another name for credit card payment protection insurance? Most people have heard of payment protection cover because of the scandal surrounding it, but many people do not realise that credit card repayment cover may have been mis-sold in exactly the same way as PPI.

The payment protection scandal first came to light in 2006 following an investigation by the Financial Service Authority. The investigation revealed a significant amount of failings within the lending industry connected to the sale of the cover, it also attracted a lot of media attention. This media storm only heightened in the following two years when a number of high profile lenders were handed fines and the public reacted angrily to the idea that financial institutions that they had placed trust in had acted in such an irresponsible way.

Although it has been shown that many people were, unfortunately, sold payment protection insurance cover many have now been able to successfully pursue claims and have received compensation. It is feared, though, that many customers who have been mis-sold credit card repayment cover may not realise they have been affected or that they have the right to make a claim.

If you would like to start your claim for mis-sold credit card repayment cover, you can do so today by filling out our quick claim form.